Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
25 comments:
sir can u add ur comment on hindalco
Hindalco is its last upmove and 180-185 & 200 is a strong resistance. As I do not have the hourly chart, finer details are not known.
As long it is above 160, the trend is up.
Hi, I am holding 5300 ce at 95, shall book here and go short or can wait?. please suggest me.
If Nifty closes above 5271 today, it will have strength to move higher tomorrow. Or else the momentum will be down for the time being.
It has not given a sell. Your entry price is high.
You need to weigh those risks. Can you keep a SL of 5240 as SL & hold.? But then what is the use of such a strategy..! You need to make money.
Always manage your risks and do not lose much on any single trade, please. You will always get plenty of opportunities.
Exit, if it drops below 80.00, that is a 15 point loss.
Likely NS close @5266, unless it moves 25-30 points in the last 10+ minutes. That means we are closing below daily HEMA of 5271
Yes..Janaki,
With such negative divergences, this is the first action of the market in expected line.
It tested the 5 day ema today...May be , it could close below that tomorrow..!! OR make that fast 5th wave to 5310++.
Thanks you.
Hi Ilango,
you have mentioned in your Stock Wealth blog about TATA STEEL.
what shud be the target for downside.
I am short at 650 with SL at 664.. do I need to change my SL
Regards,
Amit
Ilango sir, I took short at 5279 with SL at 5290, will now carry it for tomorrow. thanks.
@ Janaki - how u r arrived 5266 levels? please educate..
@ Ilango - incidentally 5274 is supporting line and 71 is Hema .. looks like nifty is OB level , (consecutive run) but still fast 5th wave is possible sir?
Regards
hi ilango
pl send me the BN file.
THANKS in advance
agwires@gmail.com
Amrender Gill
Hi..Amit,
I will update on that tonight.
Hi..Saravana,
That is only an intraday trade. I would prefer the overnight shorts only in downtrends. I am glad, your shorting level is reasonably good.
Dear Ilango,
If I am not asking too much then Please try to give view on Reliance Industries also.
I feel this is the stock which is not letting Nifty down from last 2-3 days.
Thanks,
Amit
hi ilango
one doubt. if nifty comes below day high ema is negative or should come below day ema? what ema should we take for trend reversal?
syamala
hi ilango
what ema should we take for trend reversal? day
high ema or day ema below nifty coming?
Ilango sir, today there was too much talk about emas, a starter like me is totally confused. Till now wht i understand as a conservative trader is that if NS closes below all three (5 ema,5 hema, and LEMA), it shows weakness,and if next day show follow up then short trade can be taken.For this short trade,5 day high can be taken as SL.
Sir am i learning it right?plz correct me.
Hi..Sujatha,
4th waves are generally deceptive. Anything is possible as the uptrend is still intact till proven otherwise.
Hi..Amit,
I will update RIL too as it was resisted at its channel resistance in a similar way the Bank Nifty got resisted.
Hi..Amrender Gill,
I will update today's data & send it tonight.
Hi..Syamala,
For trend reversal: I consider a daily close below 5-ema to be followed by a close below 5 day low ema.
Closing below Day High ema suggests of the weakening momentum that market requires consolidation. And during this consolidation of the daily moves, if weekly TA gets affected, it can turn into a downtrend.
Also during this correction, market can close below 5-ema, test 5-low ema and at times may even close below low ema for a day. There is absolutely no rules here..but only guidelines.
We need to look at various indices & some frontline stocks' behaviour to take a "guess" and trade.
Sir i got my answer.thanks.
Dear Sir,
Please give some information on BAJAJ HINDUSTAN. I have bot it at 239 for positional trade. After then it slips til 228.4 and closed at 231.6. What shold I do . Please give me om advice. I wil be thankful to you for your kind advice.
Dear Alok
your bajaj hindustan has given best return in 12 months from 50 to 240, in such counters speculative hands are high.
If chart shows 220 as support that means retail will buy but speculators will sell more as there buying price would be much below.
For investment sugar sector is not ideal, sugar prices world wide are peaking any govt intervention will cause panic in sugar counters.
Like doing an import from neighbouring states or forcing the sugar companies to pay exta to the farmers as sugar prices have shoot up can affect the stock prices heavily.
If you are an investor then wait to add in declines near 140-150 levels if you get it as Bajaj family themselves have picked at 140-150 levels in 2007.
Good luck
Thanks Ilango for the suggestion!
Hi Ilango Sir,
Please give your coment on my request...
Dear Akash,
Thanks a lot for ur advice. May I churn this stock to reduce my losses. What will be ur Advice.
Dear Akash
I am not an investor. I think it has fallen due to QIP placement news. What will its effect on its price. May it give me chance to exit at 240 or 239 level in current 2-3 trading session.
Please give ur kind advice.
While Sugar Prices is Soaring and I expect some momentum will come in sugar stock. Please give ur valuable advice.
Dear Alok
In 2007 BH could not sustain above these 240 levels and corrected, but good thing about sugar is it has a lovely cycle and the boom comes once in every 3-4 years.
And now we are seeing a boom on the prices, so cutting a good blue chip in loss will not be a good thing.
Since i am not trading that counter for now i will not be able to say what it will do in 2-3 session.
As long as we stay above 5208 there is hope for bulls, below it first hit will be on speculative counters.
Regards
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